Digital media data has made it possible to narrowly target, locate and reach those precise prospects who are ‘ready to buy’, but many businesses have fallen victim to the pitfalls of micro-targeting.
The flawed ‘targeting’ strategy reasons that advertising which reaches the broader market with mass media is a waste of time and money.
But here is the thing, what if your competitor has been using mass media effectively to establish a brand and create a pre-need preference for their business over yours, before the consumer is ready to buy? Waiting to reach your prospects, until they are ready to buy, can be too little too late.
Human beings are stubborn animals. Reaching them when they are ready to buy is of little use if they’re biased towards your competitor or not familiar with you.
Conversely, if you have created a strong pre-need preference for your business, your competitors online and search efforts will be in vain.
Of course, it’s not wrong to reach consumers when they are ready to buy, particularly if they are already familiar with you, trust you, and prefer you. Advertising ‘experts’ call targeting consumers who are ready to buy, a “recency strategy” … reaching consumers as close to the point of purchase as possible.